Business - Page 25

Reuters - U.S. blue-chip stocks fell on Wednesday after stronger-than-expected inflation data stirred interest-rate worries. But the Nasdaq ended at a six-year high

Business

Reuters - Federal Reserve officials believed the outlook for core inflation had improved, but were uncertain inflation was firmly on a downward path, according to minutes of their January 30-31 policy meeting released on Wednesday.

Reuters - Goldman Sachs Group Chairman and Chief Executive Lloyd Blankfein received more than $54.3 million in cash, stock and options last year, setting a record for Wall Street CEO remuneration after leading the most profitable investment bank for just six months.

Reuters - Oil prices soared above $60 a barrel on Wednesday as a rash of snags affecting U.S. oil refineries, pipelines, and an oil field sparked worries of a supply crunch in the world's biggest energy consumer.

Reuters - U.S. consumer prices rose more than expected in January despite a dip in energy prices, as medical costs jumped, according to a government report on Wednesday that led financial markets to trim bets of interest rate cuts.

Reuters - Medtronic Inc. reported higher quarterly profit on Tuesday as demand for its spine, vascular and neurology products offset weak sales of its implantable devices to control dangerously fast heartbeats.

Reuters - Japanese brewer Sapporo Holdings (2501.T) is considering a management buyout to counter a possible takeover attempt by U.S. hedge fund Steel Partners, Kyodo news agency reported on Wednesday.

Reuters - Home Depot Inc. , the world's largest home improvement retailer, posted a 28 percent drop in fourth-quarter profit on Tuesday as the weak U.S. housing market depressed sales.

AFP - Global retailer Wal-Mart Stores Inc. recorded flat growth in its annual earnings, with overseas acquisitions offsetting a sluggish US performance, but said the future looked brighter.

Reuters - Stocks rose on Tuesday as a drop in oil futures and a flurry of merger deals, including one between Sirius Satellite Radio and XM Satellite Radio, helped rekindle interest in recently battered tech shares.

Business

Reuters - Hewlett-Packard Co. said on Tuesday quarterly profit rose 26 percent, helped by strong performances in its printer and personal computing businesses.

Reuters - Recent launches of new video game consoles from Sony (6758.T), Microsoft and Nintendo (7974.OS) are benefiting game maker Electronic Arts Inc. , which is aiming to garner 20 percent of total game sales, according to Barron's. More Info...  

Reuters - DaimlerChrysler AG (DCXGn.DE) is advancing plans to sell or spin off Chrysler Group, its struggling U.S. unit, and has already received "several expressions of interest from around the world," the Wall Street Journal reported on its Web site on Sunday. More Info...  

Reuters - With the pace of corporate earnings reports slowing, Wall Street will have its eye on consumer prices and other economic indicators in this holiday-shortened week.

Business Reuters - BAE Systems and Abu Dhabi government-owned Mubadala Development Company are in talks to develop an aerospace business in the UAE, the regional head of the British defense company said on Sunday. More Info...  

AFP - As Wal-Mart, Carrefour and other foreign retailers crowd into China, they are greeted with open arms by a government which, in this industry at least, shows few protectionist proclivities.

Reuters - Citigroup Inc. , the largest U.S. bank, plans to list on the Tokyo Stock Exchange later this year, a move that could make it easier to buy Japanese firms through stock swaps, the Nihon Keizai (Nikkei) business daily reported on Sunday.

Reuters - Bank of America Corp. on Friday said it awarded Chief Executive Kenneth Lewis $11.07 million of restricted stock as part of his compensation for 2006, when the No. 2 U.S. bank's profit rose 28 percent to a record.

Reuters - Harley-Davidson Corp. said on Friday it had reached a tentative agreement to end a strike by 2,800 workers at its largest plant.

AP - Housing construction plunged to the lowest level in nearly a decade last month as the housing industry continued to struggle with a severe slowdown. Meanwhile, wholesale prices dropped by 0.6 percent in January, the biggest amount in three months, providing fresh evidence that inflation pressures are easing. More Info...